http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/08/great-news-on-jobs-unemployment-rate-falls-to-7-7-236k-added-to-payrolls/
Friday, March 8, 2013
Unemployment Rating Dropped
The latest report on the current unemployment rate shows a decrease in unemployment in February as compared to January. The rate dropped with the addition of 236,000 jobs in the market and a high wage rate to employees. While this comes across as wonderful news, when reading between the lines, the decrease is also due to a decline in the labor force and those searching for work. Despite the labor force shrinking, this is overall great news that our economy may finally be back on track after a few slow years following the recession of 2008. Reports also indicate that the stock market was up this week and jobs are continuously being added in efforts to keep the economy on the upside of the downturn. This is also good news in light of the sequester that has taken effect. Over 14,000 Federal, State, and local government jobs were cut in the last period, but various other industries are picking up the pieces to see the economy stay afloat.
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I agree that this could not only be a good thing, and could have some negative qualities. For example, a lot of unemployed people could become discouraged workers. This is not reflected in the unemployment rate, which means there are just more people out of the labor force.
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